Functional Advantages of Web Meetings for Trading Firms

International trade forms a major part of Malaysian economy due to commercial trading via Strait of Malacca. This economy has shown tremendous growth in terms of GDP in recent years. Besides being a prominent banking and financial centre, the country highly capitalises on tourism as well. World Bank has valued stock market capitalisation of the companies listed in the country at RM 2 trillion. The companies engaged in trading across various sectors are highly dependent on web meetings to facilitate their communication needs. Exchanging information over collaborative online meetings ensures several potent benefits to trading firms, such as reduction in overhead costs, total confidentiality and streamlined communication. Web meeting enables organisation to boost their productivity by manifolds. Online meetings allow participants to converse with each other without any interruptions in spite of the geographical distance between them. Thus, the need to travel for meetings is eliminated. By opting to deploy conferencing solutions, firms can save in terms of both time as well airline tariff. Employees too find these telecommunication solutions more convenient as compared to traditional boardroom meetings. Meetings, whether domestic or international, can be easily conducted from remote locations. Through online meetings, sales representatives and marketing professionals can interact with clients in real-time. Marketing team can gather genuine feedbacks from clients without travelling long distances, reducing delays and ineffective communication. Basic system configuration is required for holding a web meeting. Computers with average processing capabilities and broadband connectivity are the only prerequisites for conducting such a web based event. The software needed for online meetings are easy to install and incorporated with advanced features to ensure that the meetings can be conducted seamlessly. Multifaceted benefits rendered by online meetings are not limited to only large Malaysian corporate firms. SME and start-up firms are also making use of online collaboration for seamless exchange of information. An individual who is doing business online can communicate with customers on a regular basis in a cost effective manner via these solutions. Web meeting based interactions are more effective than simple email or phone calls.